Get the free Form 5500 and 8955-SSA Filing Deadlines Form 5500 Part I Line bb

Verify Filing Deadline Your Form 5500 annual report and your Form 8955SSA must be filed by the last day of the 7th month following the plan year-end. You may wish to file for an extension if you need

How to fill out form 5500 and 8955-ssa

How to fill out form 5500 and 8955-ssa:

1. Gather necessary information: Before beginning the forms, gather all the pertinent information such as the plan number, name, and address, employer identification number (EIN), and details about the plan's financial status.
2. Start with form 5500: Begin filling out Form 5500 by providing basic information about the plan and its sponsor. This includes the plan name, EIN, and the sponsor's name and address.
3. Fill out plan characteristics: Next, provide details about the plan's characteristics, such as the type of plan, the plan year, and the plan's funding arrangement.
4. Report financial information: It is important to accurately report the plan's financial information. This includes the beginning and ending plan balances, contributions, distributions, and any other relevant financial transactions.
5. Attach required schedules: Depending on the plan's characteristics and financial status, there may be additional schedules that need to be attached to Form 5500. These schedules provide more detailed information about specific aspects of the plan. Ensure that all required schedules are completed and attached.
6. Complete the signature section: The plan administrator or authorized person must sign and date the form to certify its accuracy.
7. Fill out form 8955-ssa: Form 8955-ssa is used to report information about terminated participants who still have a balance in the plan. Start by providing basic information about the plan, including the plan name, EIN, and the plan administrator's name and address.
8. Report terminated participants' information: For each terminated participant who still has a balance in the plan, report their name, social security number, date of birth, and other relevant details.
9. Sign and submit: Once all the required information has been provided, ensure that the form is signed and dated by an authorized person. Submit the completed forms to the appropriate entity, typically the Department of Labor or the Internal Revenue Service.

Who needs form 5500 and 8955-ssa:

Form 5500 is required by Employee Retirement Income Security Act (ERISA) regulations for most employer-sponsored retirement plans, including pension and welfare benefit plans. It is filed annually to provide the government with information about the plan's financial status, operations, and compliance with ERISA requirements. The form is typically required for plans with 100 or more participants, but smaller plans may also need to file in certain circumstances.

Form 8955-ssa is used to report information about terminated participants who still have a balance in the plan. It is required for certain retirement plans such as defined benefit pension plans and certain defined contribution plans. The form is used to ensure that participants receive the retirement benefits they are entitled to and to help the government track and enforce requirements related to retirement plans.

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What is form 5500 and 8955-ssa?

Form 5500 is an annual report filed with the Department of Labor, the Internal Revenue Service, and the Pension Benefit Guaranty Corporation. Form 8955-SSA is used to report information on separated participants with deferred vested benefits.

Who is required to file form 5500 and 8955-ssa?

Employers and plan administrators of employee benefit plans subject to the Employee Retirement Income Security Act (ERISA) are required to file form 5500. Form 8955-SSA is typically filed by retirement plan administrators.

How to fill out form 5500 and 8955-ssa?

Form 5500 and Form 8955-SSA can be completed electronically using the Department of Labor's EFAST2 system. Detailed instructions are available on the IRS and Department of Labor websites.

What is the purpose of form 5500 and 8955-ssa?

The purpose of Form 5500 is to provide information about employee benefit plans to the government and participants. Form 8955-SSA is used to report information on separated participants with deferred vested benefits.

What information must be reported on form 5500 and 8955-ssa?

Form 5500 requires information about the plan's operations, funding, assets, and investments. Form 8955-SSA requires information about participants who have deferred vested benefits.